⚖️ Legal Experts Call for Overhaul of Nigeria’s Real Estate Transaction Framework

Legal professionals and industry stakeholders are sounding the alarm over persistent challenges in Nigeria’s real estate sector, urging sweeping reforms to improve transparency, investor protection, and regulatory coherence.

At the recently concluded Legal Business Conference 2025 held in Lagos, top lawyers, property consultants, and government officials gathered to dissect the legal bottlenecks plaguing property transactions across the country. The event, themed “Strengthening Legal Infrastructure for Sustainable Real Estate Investment,” highlighted the urgent need for harmonized laws and better documentation practices.

🏛️ Fragmented Regulations and Title Disputes

One of the central issues raised was the fragmentation of land laws and property registration systems across Nigeria’s 36 states. Legal experts argued that the lack of a unified framework has led to frequent title disputes, fraudulent land sales, and delays in property verification.

“We have a situation where a single parcel of land can be claimed by multiple parties, each with seemingly valid documents,” said Barrister Chijioke Nwosu, a property law specialist. “This undermines investor confidence and clogs the judicial system with avoidable litigation.”

📄 Documentation and Due Diligence Failures

Panelists also criticized the widespread neglect of due diligence in real estate transactions. Many buyers, especially first-time investors, rely on informal agreements or incomplete documentation, exposing them to legal and financial risks.

“The culture of ‘buy now, verify later’ must end,” said Funmi Adeyemi, a Lagos-based conveyancing lawyer. “We need to educate the public on the importance of proper title search, survey verification, and legal review before committing to any property deal.”

🏦 Land as Collateral: A Risky Proposition

Another concern was the use of land as collateral for loans without clear title verification. Financial institutions often accept property documents that later turn out to be invalid or contested, leading to loan defaults and asset recovery complications.

“Banks must strengthen their internal legal review processes,” noted Dr. Musa Ibrahim, a legal advisor to a major mortgage firm. “Accepting land as collateral without rigorous checks is a ticking time bomb.”

🛠️ Proposed Reforms and Policy Recommendations

To address these challenges, legal experts proposed several reforms:

• Establishment of a centralized digital land registry accessible nationwide.
• Mandatory legal review and title verification for all property transactions.
• Standardization of property documentation formats across states.
• Public awareness campaigns on real estate legal literacy.
• Stricter penalties for fraudulent land sales and document forgery.

The conference also called on the Federal Ministry of Works and Housing and the National Assembly to prioritize legislative updates that reflect modern real estate practices and investor needs.

🌍 Economic Implications

Nigeria’s real estate sector contributes significantly to GDP and employment, but experts warn that without legal reforms, its growth potential could be stifled. Foreign investors, in particular, remain wary of entering a market riddled with legal ambiguities and enforcement gaps.

“We must build a system where property rights are clear, enforceable, and protected,” concluded Justice Amina Bello, a keynote speaker and retired Supreme Court judge. “Only then can we unlock the full potential of real estate as a driver of national development.”